Economy News

China's Biggest Internet Company Moving On U.S. IPO

(Undated) -- The biggest Internet company in China is going public in the United States.

E-commerce giant Alibaba announced Sunday that it will soon launch an initial public offering on the New York Stock Exchange. Market analysts say it could be the biggest IPO since Facebook went public two years ago.

Alibaba claims the volume of its 2012 transactions was more than $163 billion dollars, which is more than the combined transactions of Amazon and eBay. There's no word on exactly when the Alibaba IPO will launch.